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The Latest Breaking News from Economic Growth

WASHINGTON: US economic growth lost steam in the first quarter this year, the Commerce Department said on Thursday, as the possibility of a mild recession brews while consumer spending weakens.

Bangkok Post

House GOP readying economic package with business tax breaks - Roll Call

House Republicans are preparing to take up some favored tax breaks as part of a broader package aimed at spurring economic growth.

Roll Call

Thai growth slashed based on weak exports

The Fiscal Policy Office (FPO) has downgraded its forecast for Thai economic growth this year to 3.6% from 3.8%, mostly based on expectations of an export contraction.

Bangkok Post

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Finance Ministry trims growth forecast

The Finance Ministry has lowered its 2023 economic growth outlook to 3.6% from 3.8% projected earlier, on expectations of a fall in exports as global demand weakens.

Bangkok Post

Oil Prices Stable as Investors Ponder China Demand, Rate Hikes

Oil prices held steady on Tuesday as investors weighed strong holiday travel in China that could boost fuel demand against the prospect of rising interest rates elsewhere, slowing economic growth. Brent crude fell 3 cents to $82.70 a barrel at 0620 GMT, while US West Texas Intermediate crude also eased…

Asharq Al-Awsat

Stock markets today: Asia mixed ahead of US earnings

Asian stocks are mixed after Wall Street edged higher as investors awaited U.S. earnings reports and an update on economic growth

The Independent UK

Schizophrenia being displayed at the IMF

It has taken far too long, but it seems that the International Monetary Fund has finally internalised some hard truths about sovereign-debt reduction. Chief among them is that growing economies have an easier time repaying. As such, fiscal consolidation -- the organisation's favoured strategy -- undermines efforts to reduce debt-to-GDP…

Bangkok Post

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BJT pushes land bridge project in South

The Bhumjaithai Party is vowing to push for a "land bridge" that will connect the Andaman Sea with the Gulf of Thailand, saying the project will help spur economic growth in the South.

Bangkok Post

PM to kick off business conference aimed at boosting UK’s economic growth

Rishi Sunak said the Business Connect event would bring the UK’s biggest companies and investors together for ‘meaningful dialogue’.

The Independent UK

Clock watching: meet the artist who thinks time is ruining our lives

‘Clock time’, all about productivity, money and economic growth, threatens to destroy us, says artist Jenny Odell. But there are other kinds of time, and we need to learn to embrace them

The Guardian - UK

Economic growth alone is not enough to end rabies: Study

According to a recent study from the University of Surrey, economic development may not be enough to achieve the internationally agreed-upon goal of eliminating human mortality from dog-mediated rabies. Read further on Dynamite News:

Dynamite News

Has Denver lost its edge? Colorado’s biggest counties are losing population

The entire northern Front Range, especially metro Denver, was a hot spot coming out of the Great Recession, drawing in young workers from all over the country. But that important driver of economic growth last decade looks like it has stalled and in some areas reversed.

The Denver Post

Why Saudi Arabia Transfered 4% of Aramco Shares to PIF Subsidiary?

Saudi Arabia's Crown Prince Mohammed bin Salman announced Sunday the transfer of a 4% stake of the oil giant Saudi Aramco to Sanabil Investments, a subsidiary of the kingdom's Public Investment Fund (PIF). Experts interviewed by Asharq Al-Awsat said the move supports PIF’s flexibility in capturing local and global investment…

Asharq Al-Awsat

India Will Pass China to Be Most Populous Nation by Mid-2023

India is on track to surpass China by mid-2023 as the world’s most populous nation, United Nations data said Wednesday, raising questions about whether a booming, young Indian population will fuel economic growth for years to come. While India's 254 million people between ages 15 and 24 is the largest…

Asharq Al-Awsat

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Daily Mirror

Trade summit 'to shape election manifestos and tackle UK's dire economic growth'

International campaign group Best for Britain has organised a conference in Birmingham to hear ideas which could influence parties' manifestos for the next election

Asharq Al-Awsat

IMF: Private Sector Investments Will Drive Saudi Economic Growth

Saudi Arabia’s budget will achieve more financial revenues following a production cut announced by the Kingdom with OPEC and its allies, according to the International Monetary Fund (IMF), thanks to higher crude prices. “The impact on the budget and on the external position relative to what we had projected is…

The Guardian - UK

FTSE 100 racks up eighth day of gains despite rising insolvencies and unemployment – as it happened

More firms are at risk of tipping from ‘danger’ to ‘distress’, experts warn, as businesses are hit by soaring costs and weak economy

The Independent UK

Stock market today: Asia mixed despite China growth data

Asian shares are trading mixed Tuesday as pessimism about global uncertainties remained even as China reported a better-than-expected economic growth data

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ABC News

Did the Reserve Bank's interest rate hikes put Australia's economy on a 'knife-edge'? A major consulting firm thinks so

A major consulting firm forecasts a "consumer recession" in 2023, warning hundreds of thousands of Australian households are bleeding cash every month.

The Independent UK

Asian shares mixed over economic growth, rate worries

Asian markets are trading mixed as worries continue about economic growth, even as some hopes were perked by a recent rise in U.S. bank issues

Caixin Global

Opinion: Sustainable Framework Needed for China’s Property Market

The country’s real estate industry has been a crucial driver of economic growth in the past two decades. Here’re some proposals to ensure its stability

ABC News

IMF warns Australian housing market at high risk of mortgage defaults ahead of global economic downturn

The International Monetary Fund says Australia has one of the greatest risks of mortgage defaults in the world, as it warns of a significant downturn in global economic growth for the year ahead.

France 24

Alibaba unveils chatbot as China tightens rules on AI

Alibaba is the latest tech company to enter the artificial intelligence race, as it unveils its own chatbot, Tongyi Qianwen. But it could face restrictions before even launching, as authorities in Beijing have outlined draft regulations to govern AI, including the stipulation that such platforms will reflect the core values…

Fortune

'The situation is quite fragile': The IMF just issued its weakest outlook for the world economy in 3 decades

The IMF is worried about a “hard landing,” with sticky inflation meaning the odds of a recession have “risen sharply.”

The Independent UK

IMF: Prolonged high inflation dims outlook for world economy

The outlook for the world economy this year has dimmed in the face of chronically high inflation, rising interest rates and uncertainties resulting from the collapse of two big American banks

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